BENSALEM, PA--(Marketwired - August 02, 2016) - Gyrotron Technology Inc. (OTCBB: GYTI), an industrial process technology company, entered into an agreement with a leading manufacturer of tempering equipment pursuant to which the manufacturer will design, produce, and thereafter, jointly with GYTI, test a prototype glass heat tempering machine utilizing GYTI's highly innovative heat tempering technology. Subsequently, GYTI anticipates negotiating an exclusive license agreement with the manufacturer for certain geographic areas.
"We are extremely pleased to begin commercializing our novel heat tempering technology with a leading international manufacturer," said Dr. Vlad Sklyar, president of GYTI. "We expect this technology to provide increased processing speed, significant cost savings, and major improvements in optical quality to the multi-billion dollar tempered glass market."
About Gyrotron Technology -- (OTCBB: GYTI): GYTI develops and markets unique processing technology solutions for a broad range of industries, including glass, plastics, semiconductors, and food. These utilize the gyrotron, a very powerful source of high-frequency microwave energy, and other sources of electromagnetic energy. The solutions open new horizons, substantially enhancing productivity and cutting costs by, among other things, applying heat in a dramatically more efficient and effective manner than is possible with legacy technologies. Please visit our website http://www.gyrotrontech.com/ for additional information.
Forward-Looking Statements: This release and the materials referred to herein contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain, as they are based on current expectations and assumptions concerning future events or future performance of GYTI. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties inherent herein and in publically available information on GYTI, including filings with the SEC. These risks and uncertainties could cause actual results to differ materially from those indicated in the forward-looking statements.